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Memory chipmaker Contour Semiconductor Inc. has raised $8 million in new funding, according to federal documents. While the filing did not disclose the investors, Contour’s website lists Fairhaven Capital Partners, American Capital, Still River Funds and Eastward Capital Partners as backers, along with private investors.
President and CEO Steven Grossman would not comment on the funding, but did confirm that the company is working on an advanced version of nonvolatile memory, of the type used in Flash drives and memory cards. Grossman said that the company is making the replacement for current Flash memory products.
According to filings with the U.S. Securities and Exchange Commission, North Billerica-based Contour has raised about $20.6 million over two rounds of funding since it was founded in 2000 by CTO Dan Shepherd, who developed the technology in the 1990s, according to the company’s website.
Contour’s technology is based on a memory development the company calls Diode Decoded Memory, in which Shepherd has patents and filings. According to the company’s website, using this technology will allow for production of memory at a rate of three to four times the current output rate.
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